Hyundai Motor Company is recalling more than 54,000 Elantra Hybrid vehicles in the U.S. due to a defect in the hybrid power system that could overheat and spark a fire, federal regulators said.

The recall covers certain 2024–2026 Hyundai Elantra Hybrid models. About 54,337 vehicles are being recalled, though Hyundai estimates only 1% may actually contain the defect, according to notices this past week from the National Highway Traffic Safety Administration (NHTSA).

At the center of the recall is the vehicle’s hybrid power control unit (HPCU), which regulates electrical power in the hybrid system. NHTSA said a transistor inside the unit can overheat under heavy electrical loads.

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Drivers could experience a “no start” condition, reduced-power “limp mode,” or warning lights while driving. In rare cases, the overheating could damage internal components and raise the risk of a fire.

“Overheating of the HPCU could increase the risk of a fire,” NHTSA said.

Hyundai said it knows of four U.S. incidents tied to the issue, including one reported fire. No injuries or crashes have been reported.

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Hyundai dealers will fix the problem with a free HPCU software update. Owner notification letters are expected to be mailed starting July 13.

“All owners of the subject vehicles will be notified by first class mail with instructions to bring their vehicle to a Hyundai dealer, where technicians will update the HPCU software,” NHTSA said. 

“This remedy will be offered at no cost to owners for all affected vehicles.”

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Earlier this year, Hyundai said it was recalling more than 61,000 Palisade SUVs in the U.S. after an issue with powered seats was linked to the death of a child.

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Hyundai did not immediately respond to FOX Business’ request for comment.

ET Intelligence Group: ITC‘s cigarette business reported margin pressure in the March quarter due to the recent increase in taxes. While other segments such as FMCG and paperboards showed improved profitability, their smaller size meant they could not fully offset the decline in cigarette margins.

To manage the impact of higher tax, the company is implementing tactics around pricing and product portfolio. It has taken multiple steps in recent months to strengthen its portfolio and protect market share. However, revenue growth and profitability in the near term remain exposed to the risk of higher illicit cigarette trade.

The stock has dropped nearly 24% so far in 2026, reflecting concerns around the company’s growth prospects following the tax increase. While valuations appear attractive, with the price-to-earnings (P/E) multiple at around 18 times, below its three- and five-year average of 23-24 times, the stock is likely to remain under pressure until there is more clarity on how the company navigates these challenges and whether its strategies deliver results.

The company stated that sharp tax hikes have historically fuelled illicit trade, with India being the fourth-largest market globally, according to Euromonitor estimates. It makes up nearly one-third of the legal market. The recent tax increase may further widen price gaps and encourage illicit activity.
ITC’s margin was weighed down by weakness in the cigarette business, which accounted for nearly half of revenue. The standalone operating margin before depreciation and amortisation (EBITDA margin) on gross revenue basis dropped to 50% from 61% in the year ago quarter.

The agri segment’s margin also contracted to 5.8% from 7% during the period due to US tariffs, climate-related supply issues and West Asia-led logistical disruptions. Domestically, the government’s imposition on stock limits and export curbs on key commodities restricted business opportunities.
This was partly offset by margin expansion in the FMCG segment to 8.3% from 6.3%.

Mumbai: Foreign investors continued to pare exposure to financials in the first half of May, pulling out ₹17,960 crore from the sector, nearly 47% of the overall foreign outflows during the period, amid concerns over tighter banking margins and India’s lower appeal compared to other emerging markets.

“Banks are facing headwinds from higher bond yields, which could impact treasury income, while implementation of Expected Credit Loss (ECL) norms, requiring higher provisioning, is expected to keep return ratios volatile in the near term,” said Pankaj Pandey, head of retail research at ICICI Securities.

Between January and April, overseas investors dumped more than ₹91,000 crore worth of financials, a sector with the highest foreign ownership in India.

The Bank Nifty has fallen nearly 7% over the past month, compared with a 4% decline in the benchmark Nifty.

“The valuations in the banking space remain reasonable, and the foreign outflows in the sector are due to these investors wanting to cut exposure to India as a whole, as they find better bets in the rest of the emerging markets,” said Siddarth Bhamre, head of research, Asit C Mehta Intermediates. “They cannot reduce weightage in India without selling banking stocks.”

Overall, foreign investors sold shares worth ₹38,443 crore across 19 sectors in the first half of May, according to NSDL data. Oil & gas saw outflows of ₹6,885 crore, while telecom stocks witnessed selling worth ₹2,542 crore, extending the pressure seen in April.
Overseas investors bought shares worth ₹11,395 crore across four sectors, with nearly 60% of the inflows directed in the services sector. “The services sector, which includes Adani Group stocks such as Adani Ports and Adani Enterprises, performed well after resolving issues related to the US Securities and Exchange Commission (SEC),” said Pandey.Pandey said that the MSCI rebalancing next week could draw some foreign inflows, but that is a one-time event.

Prediction markets hit a lot of key male interests. “[They] seem to sit at the intersection of several already male-dominated online cultures such as sports betting, crypto speculation, ‘finance bro’ culture, streamer and influencer fandoms, meme investing, and competitive online prediction communities,” Professor Elvira Bolat from Bournemouth University says.

NEW YORK — IonQ Inc. (NYSE: IONQ) shares climbed sharply in morning trading Thursday, May 21, 2026, rising $5.54 or 10.56% to $58.01 as investor enthusiasm continued for the quantum computing company after its record first-quarter performance and raised full-year guidance.

The stock has shown strong momentum in recent sessions following IonQ’s May 6 earnings report, which exceeded expectations and highlighted accelerating commercial adoption of its trapped-ion quantum systems.

IonQ reported record GAAP revenue of $64.7 million for the first quarter ended March 31, 2026, representing 755% year-over-year growth and surpassing the midpoint of its prior guidance range by 30%. The results were driven by system sales, cloud utilization and expansion of its quantum platform.

The company raised its full-year 2026 revenue guidance to between $260 million and $270 million. It also reported remaining performance obligations (RPO) of $470 million, up 554% year-over-year.

CEO Niccolo de Masi highlighted the strong demand: “With $64.7 million in revenue, we have once again significantly outperformed our guidance range, exceeding the midpoint by 30%. As a result, we are raising our revenue expectations for the full year to $270 million at the high end, based upon the strong and growing demand for our leading quantum computers, as well as the commercial impact of our entire quantum platform.”

COO and CFO Inder Singh added that approximately 60% of revenue came from commercial customers and 35% from international customers. The company noted continued strength in its Tempo system demand and pipeline.

IonQ has achieved several technical and commercial milestones in 2026. In April, it announced a photonic interconnect breakthrough enabling networked quantum systems and was selected for DARPA’s Heterogeneous Architectures for Quantum (HARQ) program. It also opened a new quantum computing R&D lab in Boulder, Colorado.

The company is pursuing fault-tolerant quantum computing and has published technical reports outlining its development roadmap. IonQ’s trapped-ion technology is positioned as a leading approach for scalable, high-fidelity quantum systems.

Market capitalization exceeded $12 billion in recent trading. The stock has experienced significant volatility characteristic of the emerging quantum sector but has trended higher on positive news flow and sector-wide government support.

Broader quantum computing stocks, including Rigetti Computing and D-Wave Quantum, also showed gains amid renewed sector interest following U.S. government funding announcements totaling $2 billion across multiple companies.

IonQ operates as a full-stack quantum platform provider, offering cloud access to its systems, on-premise installations and enterprise solutions. It serves government, academic and commercial clients across industries including finance, pharmaceuticals and logistics.

The company maintains a strong cash position and continues to invest heavily in research and development while scaling commercial deployments. It has emphasized both technical milestones and revenue growth as key metrics for long-term success.

Analysts have issued varied price targets, with several firms maintaining positive outlooks based on execution against roadmap goals and commercial traction. The stock’s performance reflects high expectations for quantum technology’s future impact on computing, optimization and simulation.

No new corporate announcements were released on May 21. Trading volume remained elevated as investors reacted to continued positive sentiment around IonQ’s Q1 results and strategic progress.

IonQ’s next major update is expected with its second-quarter 2026 earnings in late July or early August. Management has focused on delivering consistent progress toward fault-tolerant systems while expanding commercial revenue streams.

The quantum computing sector continues to attract attention as governments and enterprises invest in the technology’s potential applications. IonQ positions itself as the only publicly traded pure-play quantum platform company with commercially available systems.

Investors will monitor technical milestones, new customer wins and execution against raised guidance in the coming quarters. The stock’s movement on May 21 underscores ongoing market interest in quantum computing leaders amid broader technology sector dynamics.